By Anthony O. Goriainoff
U.K. house buyer demand in June turned positive for the first time since December 2024, but challenges remain for both buyers and sellers, according to a report from the Royal Institution of Chartered Surveyors.
According to the report, the net balance for new buyer enquiries rose 3% in the month, an improvement from May's minus 22%. Still, this indicates a period of stabilization rather than a strong recovery, RICS says.
Moreover, the national net balance for agreed sales improved significantly from previous months to minus 3%, representing a significant improvement from the minus 25% and minus 28% reported in earlier surveys. Nonetheless, sales momentum is expected to remain subdued in the near term despite this positive trend, the association's survey said.
And although near-term expectations for sales volumes have turned marginally positive, with a net balance of plus 6%, a sharp contrast to May's minus 2%, respondents foresee a broadly flat sales volumes landscape over the next 12 month, with a net balance of plus 5%.
House prices in the U.K. continue to follow a flat to marginally negative trend, with price activity seeing a deep regional variation. The South East, East Anglia and London have seen a more pronounced fall in prices, with Northern Ireland, the North West, Scotland and the East Midlands seeing clear growth.
"Encouragingly, near-term sales expectations have begun to edge higher, pointing to a modest shift in sentiment. That said, confidence in the market remains somewhat delicate, with economic uncertainty at both the domestic and global level still seen as a potential headwind," RICS said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
June's net balance for new buyer inquiries rose to 3%. "June's U.K. Home Buyer Demand Turns Positive for the First Time Since December," at 0430 GMT, incorrectly said the net balance rose 3%.
(END) Dow Jones Newswires
July 10, 2025 10:20 ET (14:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.